USDCAD remains in uptrend from 1.0138 and the price action from 1.0673 is treated as consolidation of uptrend. Range trading between 1.0540 and 1.0678 is expected to continue and another fall towards the lower border of the price channel would more likely be seen later today. Key support is at 1.0540, as long as this level holds, we’d expect uptrend to resume and another rise towards 1.0852 (May 25 high) could be seen after consolidation.

20100706_usdcad_1.gif
20100706_usdcad_1.gif